Elon Musk on Thursday denied a report about xAI, his AI startup, raising new capital, calling it “false.” The firm was said to have secured $15 billion in funding, bringing its total valuation to approximately $200 billion.

xAI completed a funding round in 2024 as part of efforts to enhance its AI development capabilities. The startup has been expanding its financing plans beyond initial expectations, incorporating equity investments from key technology partners.